Trump’s Pro-Crypto Stance Boosts Bitcoin: Todd Gordon Predicts $100K Target
Todd Gordon Predicts Bitcoin Could Hit $100K as Trump’s Pro-Crypto Stance Boosts Bitcoin and Related Stocks
In a surprising turn of events, former U.S. President Donald Trump is making waves in the crypto market as he positions himself as the pro-crypto candidate in the upcoming election. This move has not gone unnoticed by crypto enthusiasts, with many speculating that Trump’s stance could have a positive impact on Bitcoin and related stocks.
According to Todd Gordon, founder of Inside Edge Capital and CNBC contributor, the correlation between Trump’s rising popularity and Bitcoin’s upward trajectory is hard to ignore. As Trump gains ground in polls and prediction markets, Bitcoin’s price has seen a notable increase, reaching $63,217 today, up 0.66% in the last 24 hours and 9.86% over the past week.
Alongside Bitcoin, crypto-related stocks like Coinbase, MicroStrategy, Riot Platforms, and Marathon Digital have also experienced gains. Investors and traders are capitalizing on these trends, viewing Bitcoin as potentially linked to Trump’s political fortunes.
Expert Insights on Bitcoin’s Chart
Todd Gordon shared his analysis on Bitcoin’s performance on CNBC’s Last Call, stating, “I see no reason that we can’t hit over $100,000 this go around.” He highlighted Bitcoin’s resilience despite past fluctuations, attributing it to regulatory factors, macroeconomic conditions, and the growth trade correlation.
Gordon emphasized the potential for Bitcoin to surpass $100,000, contingent on market conditions and regulatory support. He also noted that Bitcoin is in a consolidation phase, with some seasonality working in its favor. According to him, if interest rates and the regulatory backdrop cooperate, enthusiasts should see significant movement this year.
Previous Predictions
Bitcoin’s price volatility has shown significant fluctuations since 2017, with major peaks in January 2018, December 2020, and November 2021. Recent trends suggest a more stable market condition despite a recovery in early 2024.
Analysts like Quinn Thompson, CEO of Lekker Capital, are optimistic, forecasting Bitcoin at $100,000 and Ethereum at $7,000 by November. Thompson attributes his prediction to factors like the U.S. presidential election, increased Federal Reserve liquidity, and the launch of the Ethereum ETF.
In addition, other analysts, such as Jelle and financial educator Robert Kiyosaki, foresee substantial growth for Bitcoin. Jelle believes Bitcoin’s surge to $100,000 is imminent, citing the current market conditions. Meanwhile, Kiyosaki predicts Bitcoin will reach $150,000, emphasizing its potential as a key asset for financial freedom.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
